Analysts predict that Maxim Integrated Products, Inc. (NASDAQ:MXIM) will report $575.02 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Maxim Integrated Products’ earnings, with estimates ranging from $574.72 million to $575.50 million. Maxim Integrated Products reported sales of $561.40 million in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is scheduled to issue its next earnings results on Thursday, October 19th.

On average, analysts expect that Maxim Integrated Products will report full year sales of $575.02 million for the current year, with estimates ranging from $2.31 billion to $2.42 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.47 billion per share, with estimates ranging from $2.38 billion to $2.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Maxim Integrated Products.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The company had revenue of $602 million during the quarter, compared to the consensus estimate of $609.52 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Maxim Integrated Products’s revenue for the quarter was up 6.3% on a year-over-year basis.

Several equities research analysts have recently weighed in on the stock. B. Riley reissued a “neutral” rating and issued a $44.00 target price on shares of Maxim Integrated Products in a research report on Monday, July 17th. BidaskClub downgraded shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Maxim Group assumed coverage on shares of Maxim Integrated Products in a research report on Friday, June 16th. They issued a “market perform” rating for the company. Jefferies Group LLC reissued a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Finally, Morgan Stanley boosted their target price on shares of Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Maxim Integrated Products presently has an average rating of “Hold” and an average price target of $48.06.

Maxim Integrated Products (NASDAQ MXIM) traded up 0.71% during trading on Friday, reaching $46.99. 2,115,383 shares of the company’s stock traded hands. Maxim Integrated Products has a 1-year low of $37.25 and a 1-year high of $49.70. The stock has a market capitalization of $13.25 billion, a P/E ratio of 23.73 and a beta of 1.04. The stock has a 50-day moving average price of $45.38 and a 200 day moving average price of $45.57.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 29th. Maxim Integrated Products’s payout ratio is presently 72.36%.

Maxim Integrated Products declared that its board has initiated a share repurchase plan on Thursday, July 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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In other Maxim Integrated Products news, CEO Tunc Doluca sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $49.00, for a total transaction of $294,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Edward Grady sold 30,849 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $45.04, for a total transaction of $1,389,438.96. The disclosure for this sale can be found here. Insiders have sold a total of 145,029 shares of company stock valued at $6,637,899 over the last three months. 1.30% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its position in shares of Maxim Integrated Products by 51.4% during the 1st quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after buying an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Maxim Integrated Products by 16.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares in the last quarter. Highstreet Asset Management Inc. bought a new stake in shares of Maxim Integrated Products during the 2nd quarter worth about $115,000. Acrospire Investment Management LLC raised its position in shares of Maxim Integrated Products by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,600 shares in the last quarter. Finally, TrimTabs Asset Management LLC raised its position in shares of Maxim Integrated Products by 89.0% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock worth $128,000 after buying an additional 1,344 shares in the last quarter. Institutional investors own 90.14% of the company’s stock.

About Maxim Integrated Products

Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.

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Earnings History and Estimates for Maxim Integrated Products (NASDAQ:MXIM)

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